**Shiba Inu Faces Heavy Sell-Off as 1 Billion SHIB Flood Exchanges**
Shiba Inu (SHIB) is experiencing a substantial sell-off in the market, raising concerns about a potential further decline in price.
**Massive Liquidation**
Over the past 24 hours, approximately 1 billion SHIB tokens have been sold across various exchanges, marking a major sell-off phase for the meme coin. This enormous selling volume has prompted a significant price drop, as illustrated by recent chart breakdowns.
The current bearish trend, along with the abrupt spike in selling activity, has cast doubt on SHIB’s short-term prospects. As of press time, the price has broken through significant support levels and fallen below the $0.000010 mark. The recent sell-off has coincided with an increase in trading volume—a key signal that the market may be reaching capitulation.
**Market Outlook**
With the Relative Strength Index (RSI) at 34.47, SHIB is now nearing oversold territory. The intense wave of panic selling has wiped out any minimal bullish momentum that remained, pushing the token’s price closer to the $0.000009 threshold.
Although it remains unclear when the market will reach its bottom, the RSI suggests that SHIB is approaching oversold conditions, which often precede a rebound or market stabilization.
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**Franklin Templeton Updates XRP ETF Filing Ahead of Imminent SEC Approval**
US financial giant Franklin Templeton has moved closer to launching an XRP exchange-traded fund (ETF) by updating its S-1 filing, following similar actions by Canary Capital and Bitwise.
**Regulatory Progress**
With $1.5 trillion in assets under management, Franklin Templeton has made a significant update to its proposed XRP ETF registration. The S-1 filing is a crucial document that must be submitted to the U.S. Securities and Exchange Commission (SEC) before a publicly traded product—such as an ETF—can be launched.
**Key Detail**
The updated filing features shortened Section 8(a) language—a procedural change under the Securities Act that typically signals the SEC is preparing to approve the registration. This update comes on the heels of Bitwise and Canary Fund making similar changes to their filings, indicating that SEC approval could be imminent for these long-awaited crypto ETFs.
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**Dogecoin Futures Volume Explodes 9,616% Amid $1.7B Crypto Market Sell-Off**
Dogecoin (DOGE) has posted staggering derivatives market activity amid a broader crypto market decline, with futures trading volume surging by 9,616% in the past 24 hours.
**Massive Volume Spike**
On the BitMEX exchange alone, Dogecoin’s futures volume soared to $172 million within the last day—a remarkable increase from previous sessions. This unprecedented spike in activity indicates a surge in trader interest and speculative positioning, as investors place directional bets on DOGE during heightened market volatility.
**Market Sentiment**
Dogecoin’s futures volume explosion coincides with a $1.7 billion wave of liquidations across the crypto market. Notably, DOGE liquidations totaled $22 million, with the majority ($16.92 million) coming from long positions.
This behavior underscores the highly speculative climate currently gripping the crypto markets, as traders rapidly reposition in response to significant price swings and growing uncertainty.
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**Summary**
The crypto market has entered a period of heightened volatility. Shiba Inu’s massive sell-off and oversold indicators, Franklin Templeton’s move toward an XRP ETF, and Dogecoin’s record-breaking futures volume exemplify the dramatic shifts underway. Traders and investors should monitor these developments closely as they may shape the next market trends.
https://bitcoinethereumnews.com/crypto/1-billion-shiba-inu-shib-sell-off-triggered-1-5-trillion-giant-franklin-templeton-updates-xrp-etf-filing-whales-dumping-dogecoin-doge-crypto-news-digest/